There’s never been a doubt that the Christmas season is the most expensive time of the year.
From food to decorations, it really does add up. Oh, and you probably have a long list of gifts for friends and family that’s putting a strain on your budget.
But with some planning and a bit of a strategy, you can save a lot more money this year.
And down below are some ways to save for Christmas and stay away from racking up the holiday debt. These ideas will help you celebrate Christmas on a budget and not feel like you’re missing out.
So if you’re ready to be more thoughtful with your saving and spending this holiday season, then scroll and see how much stress you can kill with these ideas on saving for Christmas.
Tips to Save Money for Christmas
1. Look for Deals Now
Keep an eye on potential gifts that are on sale every single month; clearance and sales are amazing ways to save money.
So instead of starting to look for Christmas gifts in November or December, start looking either right after the holidays or early fall at the very latest. Now is always the best time to look for those deals and to start doing Christmas shopping on a budget.
There’s no need to go into Christmas debt for presents you could have gotten for a lot less if you had started to shop earlier.
This tip really is on of the best ways to save money at Christmas, so make sure to start now!
2. Create a Christmas Budget
Create a Christmas budget that you can stick to so you’re not going into debt and stressing out.
Start it as soon as you can, make a goal for how much you want to save for the holidays, and look at what you can cut out to meet that goal. It’s one of the simplest ways to having an amazing Christmas without worrying about the money being spent.
Honestly, this is probably on the best Christmas on a budget ideas you can try; it really is going to save you a lot of money.
3. Set Up a Christmas Savings Account
If you don’t want to make a budget, then just set up an automatic withdrawal either on a weekly, bi-weekly, or monthly basis. It’s a simple set it and forget it method when it comes to having money by the time Christmas roles around.
And when the holidays do arrive, you’ll have enough money for good food, presents, decorations, and fun holiday activities.
Just make sure to have a goal for how much you want to have saved up and for what, and create a separate savings account from your main one.
4. Make Your Own Christmas Gifts
One of the most priceless gifts you can give to anyone is a thoughtful and personally made present.
Hop onto Pinterest or Youtube to get some DIY Christmas gift ideas that you can make. Then list out all of the materials you’ll need and make sure to follow the instructions so that everything turns out right. Your loved ones will definitely feel thought of and it’s such a simple way to save money during the holidays.
Also, if you’d like some good ideas on practical gifts to try this year, then here are some DIY Christmas gifts you can check out.
5. Pay for All Christmas Expenses With Cash
Credit and debit cards have a funny way of draining your bank account without you really thinking about it. But when you pay in cash, you become a lot more aware of your Christmas spending and how much is going out.
So just make sure to use cash as much as possible during this time of the year so you’re not stuck with a post-holiday debt that’s stressing you out.
6. Make a List and Stick to It
Sales increase during Christmastime causing a big hike in impulse purchases.
So to make sure you’re not getting overtaken by the “Christmas spirit,” make a comprehensive list of what you need or want and stick to that list when doing your Christmas shopping.
If you’re trying to figure out how to save money for Christmas, then I wouldn’t skip this tip! It really helps you to stop overspending and gets rid of the extra Christmas costs.
7. Put What You Would Have Spent Towards Christmas Savings
You might not always be aware of all the small purchases you’re making throughout the week. And when it’s all added up, it can be a pretty big amount.
So for instance, let’s say you spend $7 on lunch every single day. If you stop buying lunch and make it from home, you’ll save around $210 a month. If you spend $4 on a cup of coffee everyday, cutting that out will save you another $120 a month. That’s $330 saved just by making your own lunch and coffee!
So instead, every time you would have spent that money on a coffee or lunch, automatically put that towards your Christmas savings and watch it quickly add up throughout the year!
8. Ask People What They Actually Want
This might sound a little silly, but here’s what I’m gettin at. Asking people what they want can really save you a lot of money. You’ll be saving time because you’ll already know what to get, and avoid buying presents no one wants.
Also, you’ll be saving money as well because you can look for an alternative option, buy it sooner in the year (therefore cheaper), or get a cheaper brand of the present they wanted.
If you do decide to get a more budget-friendly version or an alternative option, just make sure they’re aware of this. It can be a bit of a weird surprise when you’re under the assumption that someone is getting a very specific gift for you.
9. Have a Potluck Dinner
Christmas dinner is one of the biggest expenses of the holiday season. With a lot of food and drinks to prep, it can cost you quite a bit of money.
But an easy way to cut down on food expenses is to invite friends and family to come over and have a potluck dinner. Each guest will bring a dish that’ll make your table festive and full.
Also, you’re not going to be responsible for all that cooking, and it’ll save you a lot of time!
10. Redeem Your Reward Points
If you do have credit cards with reward points, see if you can make use of them this Christmas season! It’s a simple way to save money during the holidays if they’ve already added up.
11. Save The Change
Having a change jar is just a simple and smart way to save money for the holidays. And it doesn’t just have to be all in one jar. You can have multiple over the year, and before you know it, those jars will be enough to buy presents.
12. Sell Your Unwanted Clothing & Household Items
Need some extra cash to build up your Christmas savings a little faster? Then take a look around your home or in your wardrobe and grab clothing and items you never use. Then sell them on online spaces like Facebook Marketplace, eBay, Poshmark, Craigslist, or even Facebook groups for people living in your area.
Grace Moser is the author and founder of Chasing Foxes, where she writes articles to help women create a life they love in big and small ways. She's been a full-time traveler since 2016 and loves sharing her experiences and exploring the world with her husband, Silas. Her lifestyle and travel advice can also be seen on sites such as Business Insider, Glamour, Newsweek, Huffpost, & Apartment Therapy.
If someone mentions they want a brown purse that’s 12 x 12 then get what you want for them. But if you ask and someone says Coach or the some other brand, buy that brand or ask them for a less expensive item for their gift. I hated Christmas gifts because I always gave a specific list and told my mom I would like one item I ask for that costs $10 then 10 cheap off brands for $1 each. I never once got what I asked for. I was totally turned off by gifts at Christmas but enjoyed everything else about it. It always felt like a slap in the face. There was always a budget and I always stayed with in that number. If some one asks for a Coach bag, get it at an auction, sale, ect don’t give them something they haven’t an interest in. Like “an alternative or cheaper brand” own up to your budget and ask for an alternative gift they would life.